On the basis of policy measures announced in the Budget 2024/2025, particularly those relating to public sector investment projects (road network, drain infrastructure, social housing, etc.) and taking into consideration that the number of tourist arrivals in 2024 will be close to the pre-pandemic level.
– GDP at market prices is forecasted to grow by 6.5% in 2024 after a growth of 7.0% in 2023 and
– GVA at basic prices is expected to grow by 6.5% in 2024, following a growth of 7.0% recorded in 2023
Final consumption expenditure of households and general government would grow by 2.8% in 2024 against 1.6% in 2023. Gross Domestic Savings (GDS) as a percentage of GDP at market prices for 2024would reach 21.5 from 19.3 in 2023.
Investment, as measured by the Gross Fixed Capital Formation (GFCF), would grow by 24.2% in 2024, after a growth of 30.7% in 2023. Exclusive of aircraft and marine vessel, it would grow by 24.6% compared to 29.8% in 2023
Private sector investment is expected to grow by 25.7% in 2024 compared to the 21.7% growth in 2023 and public sector investment would grow by 19.8% in 2024, lower than the 66.6% growth in 2023.
Investment rate, defined as the ratio of GFCF to GDP at market prices would increase to 28.0% in 2024, from 24.0% in 2023. Exclusive of aircraft and marine vessel, the rate would be 27.8% compared to 23.8% in 2023.
Private investment rate would increase to 21.1% in 2024 from 17.9% in 2023 and public investment rate would increase to 6.9% in 2024 from 6.1% in 2023.
